WARSAW, March 20 (Reuters) - Polish coal miner Bogdanka on Tuesday reported a drop in its 2011 profit as the group bore the brunt of heavy investments, although the profit was higher than expectations.
Bogdanka’s last-year profit slid to 221 million zlotys ($71.19 million)from 230 million in 2010. Analysts expected the company to report a profit of 206 million zlotys.
The miner also offered to pay 68 million zlotys in dividend.
$1 = 3.1045 Polish zlotys Reporting by Maciej Onoszko; Editing by Ramya Venugopal